5 Apr 2007

Koreans remain the top foreign investors in the Northern Marianas

10:35 am on 5 April 2007

Koreans remain the top foreign investors in the Northern Marianas over the past three years, now making up nearly 50 percent of all foreign investors in the Commonwealth.

The Department of Commerce says 132 business permits were given to Korean nationals in 2006, which is almost 10 percent up on the previous year.

The director of foreign investment office, Maggie Camacho, told the Saipan Tribune that Korean businesses are mostly into hotels, merchandise and retail stores.

China and Japan are neck and neck as the second biggest investor groups.

Overall, there were 304 business permits issued to foreign investors last year, which is about 10 percent more than the previous year.